Stephens Reiterates Overweight Rating for Truist Financial (NYSE:TFC)

Truist Financial (NYSE:TFC)‘s stock had its “overweight” rating reissued by equities research analysts at Stephens in a report released on Thursday,Benzinga reports. They currently have a $54.00 price objective on the insurance provider’s stock. Stephens’ price target would indicate a potential upside of 22.45% from the company’s current price.

TFC has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group raised their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.74.

Truist Financial Stock Up 1.8 %

NYSE TFC opened at $44.10 on Thursday. The business’s 50-day moving average is $45.27 and its 200 day moving average is $43.00. The stock has a market capitalization of $58.54 billion, a PE ratio of -30.84, a PEG ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Sell-side analysts forecast that Truist Financial will post 3.7 earnings per share for the current year.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TFC. Tradewinds LLC. boosted its position in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after acquiring an additional 222 shares during the last quarter. Burkett Financial Services LLC boosted its position in shares of Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Truist Financial by 2.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after purchasing an additional 270 shares during the period. Coldstream Capital Management Inc. raised its stake in Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 274 shares during the period. Finally, Meridian Wealth Management LLC boosted its holdings in Truist Financial by 1.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock valued at $930,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.